Is it worthwhile taking up a scholarship for an overseas education?

[Simba]

Hi,

I'm currently considering taking up a scholarship to fund an overseas education at either London School of Economics (LSE) or University College London (UCL) to study Economics.

Am concerned if it's worthwhile taking up a scholarship for a bond of 6 years, as I am not sure if taking up the scholarship would stifle my progression in terms of career flexibility after leaving the board when the bond is up ("jump-ship"), or in terms of my "bargaining rights" for my salary while serving the board due to my bond. Might possibly stay with the board even after the bond period, but am currently just feeling a sense of uncertainty.

What are the rights a scholar has upon taking up a bonded scholarship?

Considering of taking up a scholarship under the Singapore Tourism Board.

Should I go for a Bond-Free Scholarship with SMU or a 6 Year Bonded Scholarship with STB for an Overseas Education in LSE/UCL?

Any advise would be greatly appreciated!

Based on my encounters with government/stat board scholars, if all goes well, you could be in junior management or lower middle management by the end of your bond, provided you can meet their expectations.

I knew some left for better prospects, either during their bond period (have to pay back $$) or immediately after their bond period, but a fair share do stay and went on to become middle or lower senior management.

As for pay negotiation in the government/stat board, it is almost nil for maneuver, but at least your pay prospects (in terms of promotion) are better off than non-scholars.

[Sam Adams]

get first then talk

I assume the two scholarship options on the table are of different values.

The SMU one is likely to be local, with an allowance every year, and an opportunity to have overseas exchange semesters. There's no bond.

The STB one seems to be overseas, and a bond of six years for possibly four years of overseas studies. There's a bond, but that also means guaranteed employment and being of scholar grade in a govt agency rather than a farmer grade.

How much do you value going overseas? For the practical, going overseas > staying local, not only in terms of money spent, but also being "different" from the hundreds of local graduates from NUS/NTU/SMU/SUTD/SIM/ETC. But there are those that *can't* handle going overseas because they're rooted in Singapore.

And then, the degree that you're intending to take - if its relevant to things like financial/business sector or something where youth/drive/energy/ideas could give you a rocket-like career trajectory, then being bonded can cost you time.

But if you're in something like tourism (just borrowing from your STB option) then I imagine that you can do little better than be working in the govt agency that sponsored you for your studies. They will groom you in order to obtain returns from their investment.

Ultimately the choice is yours. You seem to value the freedom of choice after graduation. Just keep in mind that an overseas education's cost is several times more costly than a local one, and if you intend to work in the govt sectors, it does make a difference.

being a former scholar may have the advantage of being seen in a different league.

in some cases, you can even be offered a higher pay when you jump ship to another organization with zilch experience in the new position.

my relative who was from DSO left after the 6 year bond and is on a local bank's MAP, with an increment from his last drawn pay.

bad part of the bond was that he didn't have the freedom to choose his path during that 6 years in DSO.

in my opinion, that's still worthwhile, since most ppl's parents could not have afforded to send them to a prestigious uni overseas. even if you can, i think there still prestige associated with being a scholar, so it may not be a bad thing.

follow your heart.

Take a scholarship if the bond is for a career you're very sure you want. Too many foolish pre-uni students take up a scholarship for the prestige only to later regret it later on. How it typically plays out is that somewhere through his/her education the scholar discovers some better paying and more prestigious career like high finance and starts to regret being tied down by the bond.

Some people might argue that the scholar can switch career after fulfilling his bond.(yeah, right). Now, that's just being delusional. The 6 yrs bond attached to an overseas scholarship is going to ruin your competitiveness, since it's 6 yrs of irrelevant experience and the competition for such jobs are typically global in nature.

The best companies and jobs don't offer scholarships because they have no lack of elite candidates to choose from.

in the same dilemma! please advise.

Originally Posted by Unregistered

in the same dilemma! please advise.

The previous discussion petered out because Simba never came back to reply to his thread nor offer more information.

And so you should just read all the advise that has been given above, and give some more detail into the situation you are facing, so we can give you the advice that you are asking for, rather than repeat what has been said above.

You sound like you're expecting to be spoon-fed.